Investment Associate/ESG Officer - Infrastructure Financing/Investing (3-6 yrs)
Neev Fund has a primary mandate to invest in 8 low income states/ developing states in India (viz. Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, Uttar Pradesh and West Bengal) focused on infrastructure sub-sectors such as urban infrastructure (e.g. water and sanitation, solid waste management and social infrastructure sector such as healthcare, education, others having development impact, etc.), renewable energy (e.g. solar, wind, hydro, bio-mass energy, etc.), agricultural supply chain (e.g. warehouses, cold storages etc.), and state/ district roads.
The potential returns from each investment of the Fund shall be assessed on double bottom-line principles, i.e. adequacy of profit should also be accompanied with betterment of people (local populace), particularly women and girls, and planet (local and/ or global environment).
The Fund will commit to the environmental, social and governance standards (- ESG- ) principles, objectives, policies, exclusion list and management systems etc. described in the Fund's ESG framework. This will include commitment to accord high priority to identifying and managing corruption and fraud risks in accordance with the ESG framework.
a. Role expectation
- Investment Associate cum ESG Officer shall be responsible for assessment and management of environmental and social impact and governance and compliance aspects of portfolio companies, along with the rest of the investment team.; Additionally should be able to construct detailed financial models, undertake detailed analysis of potential investments, preparation of investment papers, deployment and monitoring and evaluation of portfolio investments and any related reporting thereof. Should also be able to liaise with external third parties, including industry associations, consultants, bankers etc.
- Understanding of ESG regulations and policy environment, especially pertaining to the investment policy of the Fund (e.g. at the national level, level of low income states and those applicable to the infrastructure sectors)
- Knowledge and understanding of the Infrastructure space; an ability to garner market intelligence and access information across the infrastructure space
- Knowledge and understanding of Private equity investments (in the Infrastructure space will be an added advantage)
i. Team skills
- Internal communication and keeping rest of investment team updated on ESG and development issues of importance to the Neev Fund
- Leading by example and following the highest standards of personal and professional integrity and compliance with all applicable laws in dealing with fund matters
- Assist senior Fund staff, across all assigned activities, in ensuring the success of the new fund (e.g. interactions with investors/LPs, interactions with government or business stakeholders etc.)
ii. Deal Sourcing
- While this will not be a primary responsibility, an ability to source deals from sources and channels within and outside the SBI group
iii. Deal screening
- Appraising the eligibility and assessing suitability of an investment proposal in light of the Fund's risk reward as well as the ESG framework of the Fund.
iv. Deal appraisal
- Fund's commercial parameters: assessment of prospective investment opportunity on a commercial basis weighing the risk reward parameters of a particular investment
- Funds ESG parameters;
- Impact assessment of prospective investment opportunity from ESG angle in the light of overall ESG framework of the fund
- Performance of qualitative and quantitative evaluation of potential transactions from ESG angle. Prepare and finalise ESG section of the IC notes and detailed appraisal documents (appraisal note, validation model)
- Developing robust financial models using different variables and running sensitivities on commercial and development parameters
- Draft, negotiate and finalize a comprehensive term sheet with potential investees as part of the Fund team
- Prepare screening notes for potential investment opportunities
- Undertake qualitative and quantitative evaluation of potential transactions and prepare Investment Committee notes and detailed appraisal documents Lead the process of due diligence from the fund team
- Lead the interaction with external consultants and advisers as required regarding analysis, structuring of deals, finalization of agreements, etc.
- Prepare in consultation with outside consultants where available, the deal/Investment management team of the fund for each asset and DFID detailed Action Plans from an ESG perspective. Agreement on a comprehensive terms for implementation of ESG imperatives with the potential investees
v. Finalize and close documentation
vi. ESG due diligence
- Lead screening, and pre-investment ESG due diligence on the potential investees
- Manage, as part of deal teams, interactions with external consultants and advisors for ESG analysis of transactions, finalization of investment documentation
- Preparation and implementation of Environmental, Social and Governance assessment plan, and leading the development of ESG action plan in consultation with internal and external stakeholders
vii. Post-investment monitoring and reporting
- Monitoring the implementation of ESG action plan, and reporting on regular basis to investors
- Expected to maintain relationships with promoters/ senior management/ directors of fund portfolio companies
- Play a pro-active role in monitoring the performance of fund portfolio on Environment, Social and Governance (ESG) parameters in line the ESG policy and goals of the fund
- ESG performance review of the portfolio companies and fund on annual basis.
- Investor reporting and investor relations pertaining to ESG aspect of the investments.
- Engage and manage the Fund's regular interactions on business and development plans with promoters/ senior management/ directors of fund portfolio companies (along with the fund nominated director/representative)
- Support furthering the development objective of the Fund (e.g. ESG, focus on women and girls etc.)
- Supporting debt and equity fundraising processes both at the Fund level and at the level of portfolio investments.
- Analyse and finalise portfolio performance reports to fund investors, and address any specific requests for action or approval
- ESG review of company before divestment including assessment of actual social and environmental and governance results achieved through aforesaid investment.
- Pro-actively be on the look-out for optimal divestment options, and assist the senior fund team to plan and execute the divestment process
ix. Desired Skills & Experience
- MBA from one of the top ranked management institutes and/or CA or CFA with relevant experience
- Minimum [3-6] years of work experience
Out of the above, 2 years of experience in Infrastructure financing or related consultancy services
Any experience in the Private Equity industry, particularly in Infrastructure investing will be considered an added advantage
- Additional Preference
- ESG execution and monitoring experience in an investment role or equivalent.
- Adequate exposure to environmental, social and governance risks in the infrastructure sector.
- Substantial understanding of achieving development impact (ESG, development frameworks)
- Significant experience managing the entire deal processes;
- Superior financial modelling skills, comfort with accounting and very analytical;
- Exceptional communication and people skills including experience working across management levels;
- Highly entrepreneurial, passion for knowledge, drive for excellence, business savvy, creative, high integrity, flexible, professional maturity;
- Strong process orientation, negotiation and facilitation skills to ensure a participative and collaborative follow-up with investee entities through the life of the investment
- Self-starter, team-oriented, detail-oriented, and proven ability to perform in high-stress environment
- Excellent oral and written communication and presentation skills - experienced in producing - client-ready- presentations, models, etc.
- Masters or Bachelor's Degree in Environmental, Engineering, Planning a plus
Position Code: ESG/HCS
Indicative remuneration: CTC of INR 25- 30 lakhs per annum
For Nomination and Expression of Interest:
Please send a cover letter and resume by email, with - Position Code- in the subject line
(Candidates are requested to mention their current compensation in their CV along with three references)
Last date for submission of nomination: 24th January 2015
Only short listed candidates will be informed.
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